Morgan Stanley Lowers Klaviyo (NYSE:KVYO) Price Target to $32.00

Klaviyo (NYSE:KVYO) had its price target cut by Morgan Stanley from $37.00 to $32.00 in a research note released on Wednesday, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities research analysts have also recently commented on KVYO. FBN Securities began coverage on shares of Klaviyo in a research report on Wednesday, March 20th. They issued an outperform rating and a $35.00 target price for the company. Needham & Company LLC reiterated a buy rating and issued a $40.00 price objective on shares of Klaviyo in a report on Wednesday, February 28th. The Goldman Sachs Group upgraded Klaviyo from a neutral rating to a buy rating and set a $36.00 target price on the stock in a report on Monday, February 5th. KeyCorp started coverage on Klaviyo in a research report on Thursday, March 21st. They issued a sector weight rating for the company. Finally, Scotiabank started coverage on Klaviyo in a research report on Tuesday, April 2nd. They set a sector perform rating and a $30.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $36.88.

Klaviyo Stock Down 0.3 %

KVYO opened at $22.72 on Wednesday. The firm’s fifty day simple moving average is $26.09 and its two-hundred day simple moving average is $27.68. Klaviyo has a 52-week low of $22.49 and a 52-week high of $39.47.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The company had revenue of $201.62 million during the quarter, compared to analysts’ expectations of $196.02 million. Equities research analysts expect that Klaviyo will post -0.27 EPS for the current year.

Insider Activity at Klaviyo

In other Klaviyo news, insider Landon Edmond sold 3,545 shares of the stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $24.15, for a total transaction of $85,611.75. Following the sale, the insider now directly owns 167,127 shares in the company, valued at approximately $4,036,117.05. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Hedge Funds Weigh In On Klaviyo

Institutional investors and hedge funds have recently made changes to their positions in the stock. Salem Investment Counselors Inc. purchased a new position in Klaviyo in the fourth quarter worth approximately $25,000. New York State Common Retirement Fund purchased a new stake in shares of Klaviyo during the 3rd quarter worth $65,000. Tower Research Capital LLC TRC grew its stake in shares of Klaviyo by 20,305.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,081 shares of the company’s stock worth $113,000 after purchasing an additional 4,061 shares in the last quarter. Skylands Capital LLC purchased a new position in Klaviyo in the third quarter valued at $172,000. Finally, Deutsche Bank AG acquired a new stake in Klaviyo in the third quarter valued at $172,000. 45.43% of the stock is owned by institutional investors and hedge funds.

Klaviyo Company Profile

Klaviyo, Inc, a technology company, provides a software-as-a-service platform in the United States, other Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company offers Klaviyo, a cloud-native platform for data store, segmentation engine, campaigns and flows, and messaging infrastructure.